US: JOLTS


Tue Jan 13 09:00:00 CST 2015

Consensus Consensus Range Actual Previous Revised
Job Openings 4.875M 4.825M to 5.010M 4.972M 4.834M 4.830M

Highlights
There were 4.972 million job openings on the last business day of November, little changed from 4.830 million in October, the U.S. Bureau of Labor Statistics reported today. Hires (4.990 million) were little changed and separations (4.623 million) declined in November. Within separations, the quits rate (1.9 percent) was unchanged and the layoffs and discharges rate (1.2 percent) was little changed.

The job openings rate was 3.4 percent. The number of job openings was little changed for total private and increased for government in November.

The number of job openings (not seasonally adjusted) increased over the 12 months ending in November for total nonfarm, total private, and government. Job openings increased over the year for many industries, including professional and business services, health care and social assistance, and accommodation and food services. Job openings decreased in arts, entertainment, and recreation. The number of openings increased over the year in all four regions.

Market Consensus Before Announcement
There were 4.834 million job openings on the last business day of October, little changed from 4.685 million in September, the U.S. Bureau of Labor Statistics reported today. Hires (5.055 million) and separations (4.824 million) were steady in October. Within separations, the quits rate (1.9 percent) was little changed and the layoffs and discharges rate (1.2 percent) was unchanged. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

Definition
The JOLTS report is the Labor Department's Job Openings and Labor Turnover Survey. The headline number is job openings.

The JOLTS report defines Job Openings as all positions that are open (not filled) on the last business day of the month. A job is "open" only if it meets all three of the following conditions:
* A specific position exists and there is work available for that position. The position can be full-time or part-time, and it can be permanent, short-term, or seasonal, and
* The job could start within 30 days, whether or not the establishment finds a suitable candidate during that time, and
* There is active recruiting for workers from outside the establishment location that has the opening.

Active recruiting means the establishment is taking steps to fill a position. It may include advertising in newspapers, on television, or on radio; posting Internet notices; posting "help wanted" signs; networking with colleagues or making "word of mouth" announcements; accepting applications; interviewing candidates; contacting employment agencies; or soliciting employees at job fairs, state or local employment offices, or similar sources.

Job Openings does not include:
* Positions open only to internal transfers, promotions or demotions, or recall from layoffs
* Openings for positions with start dates more than 30 days in the future
* Positions for which employees have been hired, but the employees have not yet reported for work
* Positions to be filled by employees of temporary help agencies, employee leasing companies, outside contractors, or consultants. A separate form is used to collect information from temporary help/employee leasing firms for these employees.

JOLTS defines hires as all additions to the payroll during the month. JOLTS defines separations as all employees separated from the payroll during the calendar month.



Description
Although lagging the release timing of the employment situation report by a month, JOLTS provides additional information on the labor market. The payroll survey in the employment situation report provides numbers on net job changes. JOLTS breaks down labor market data into pre-net changessuch as job openings, hires, and separations.